Amundi Decreases Position in GitLab Inc. $GTLB

Amundi trimmed its stake in GitLab Inc. (NASDAQ:GTLB) by 59.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 366,455 shares of the company’s stock after selling 527,701 shares during the period. Amundi’s holdings in GitLab were worth $16,542,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Twin Tree Management LP purchased a new stake in GitLab during the 1st quarter valued at $29,000. Manchester Capital Management LLC bought a new position in GitLab during the second quarter valued at $48,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of GitLab in the second quarter valued at $56,000. Byrne Asset Management LLC purchased a new stake in shares of GitLab in the second quarter valued at $61,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of GitLab in the 2nd quarter worth about $63,000. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on GTLB shares. Truist Financial set a $42.00 price target on shares of GitLab in a report on Wednesday, December 3rd. Guggenheim started coverage on GitLab in a research note on Thursday, September 11th. They set a “buy” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. increased their price target on GitLab from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Canaccord Genuity Group restated a “buy” rating and set a $70.00 price objective on shares of GitLab in a report on Wednesday, December 3rd. Finally, Macquarie lowered GitLab from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $40.00 in a research note on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.29.

Insider Transactions at GitLab

In related news, Director Matthew Jacobson sold 63,587 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.16, for a total value of $3,189,523.92. Following the completion of the sale, the director directly owned 820 shares of the company’s stock, valued at $41,131.20. This represents a 98.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $43.17, for a total transaction of $4,688,262.00. The SEC filing for this sale provides additional information. Insiders sold a total of 1,286,507 shares of company stock valued at $61,398,801 over the last three months. 16.37% of the stock is currently owned by corporate insiders.

GitLab Stock Up 3.8%

Shares of NASDAQ:GTLB opened at $40.50 on Thursday. GitLab Inc. has a 52-week low of $35.81 and a 52-week high of $74.18. The stock has a market cap of $6.75 billion, a P/E ratio of -150.00 and a beta of 0.75. The business’s 50 day moving average is $44.62 and its 200 day moving average is $45.19.

GitLab (NASDAQ:GTLB) last issued its earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. GitLab had a negative return on equity of 1.51% and a negative net margin of 4.70%.The business had revenue of $244.35 million during the quarter, compared to analyst estimates of $239.31 million. During the same period in the previous year, the company posted $0.23 EPS. GitLab’s revenue was up 24.6% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. On average, sell-side analysts anticipate that GitLab Inc. will post -0.31 EPS for the current fiscal year.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.